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Islamic finance

Pinsent Masons has extensive experience of working for a spectrum of financial institutions, including Islamic finance institutions.

We recognise the growing global importance of Islamic finance and are particularly strong in this field. We are an established player in Islamic finance and have a dedicated team of Islamic finance specialists.  Our experts in this field have been successful in developing the legal architecture needed by clients to break new ground in this specialised field.

We have been fortunate to have worked on transactions involving institutions which are supervised by the key Shari'ah scholars and advisors in the world. The wide range of clients who have benefited from our substantial experience of working with many different Shari'ah committees include Islamic and international banks, corporates, central banks, regulators, and government agencies.

Our lawyers are well versed in the Accounting and Auditing Organization for Islamic Financial Institutions' Financial Accounting Standards and Shari'ah Standards and have advised in relation to these standards.

Recent experience

  • Acting for a major Islamic bank in Dubai in relation to AED550 million Mudharaba financing for a major GCC oil and trading company.
  • Advising Emirates National Oil Company Limited (ENOC) LLC in relation to its US$100 million multi-currency Islamic financing (Istisna wa Ijara) made available for the construction of a major fuel terminal and underground pipeline between Jebel Ali and Dubai Airport.
  • Advising an international construction consortium, consisting of members from the United Arab Emirates, Australia and Spain, in relation to QAR 3.3 billion (Commodities and Wakala Murabaha) to be used to finance the construction of a major transport infrastructure project in Doha, Qatar.
  • Advising a major state owned oil and gas company in relation to its US$250 million multi-currency Islamic financing (Mudaraba) made available for general working capital and corporate purposes.
  • Advising a UAE master developer in relation to its AED 550 million Islamic financing (Musharaka) to be used towards the completion of a landmark mixed use development in the Dubai International Financial Centre.
  • Advising a Gulf state owned down stream oil and gas company in relation to its US$60 million multi-currency Islamic financing (Commodities and Wakala Murabaha) made available for its grease and lubricants manufacturing business.
  • Leading a team of international consultants advising International Bank of Azerbaijan in relation to the establishment of its new Islamic banking unit. 

 

Acting for a major Islamic bank in Dubai in relation to AED550 million Mudharaba financing for a major GCC oil and trading company